Pan American Silver (NYSE:PAAS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a hold rating to a buy rating in a report published on Friday morning.

Other equities analysts also recently issued reports about the stock. Scotiabank raised their price objective on shares of Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. CIBC raised their price target on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a report on Monday, December 29th. Bank of America increased their target price on Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Finally, Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Pan American Silver has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Pan American Silver Price Performance

Shares of NYSE:PAAS opened at $64.50 on Friday. The firm has a market capitalization of $27.21 billion, a PE ratio of 37.28, a PEG ratio of 0.42 and a beta of 0.67. The company has a current ratio of 2.31, a quick ratio of 1.55 and a debt-to-equity ratio of 0.12. Pan American Silver has a 1-year low of $20.55 and a 1-year high of $65.38. The business’s 50 day moving average is $49.74 and its 200-day moving average is $39.73.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. The firm had revenue of $854.60 million during the quarter, compared to analyst estimates of $867.76 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Sell-side analysts predict that Pan American Silver will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 24th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s payout ratio is 32.37%.

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently bought and sold shares of PAAS. Van ECK Associates Corp lifted its position in Pan American Silver by 51.8% during the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock valued at $1,748,355,000 after purchasing an additional 15,405,762 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Pan American Silver by 5,674.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company’s stock valued at $174,406,000 after buying an additional 6,034,755 shares during the period. Norges Bank bought a new position in Pan American Silver in the second quarter valued at approximately $155,281,000. First Eagle Investment Management LLC acquired a new stake in Pan American Silver during the 3rd quarter worth $178,004,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Pan American Silver by 38.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock valued at $560,149,000 after acquiring an additional 4,037,311 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.